Title: Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes
the federal award activity of Advance Child Care, Inc. under programs of the federal
government for the year ended December 31, 2024. The information in this Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of Advance Child Care, Inc., it is not intended to and does not
present the financial position, changes in net assets or cash flows of Advance Child Care,
Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes
the federal award activity of Advance Child Care, Inc. under programs of the federal
government for the year ended December 31, 2024. The information in this Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of Advance Child Care, Inc., it is not intended to and does not
present the financial position, changes in net assets or cash flows of Advance Child Care,
Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes
the federal award activity of Advance Child Care, Inc. under programs of the federal
government for the year ended December 31, 2024. The information in this Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of Advance Child Care, Inc., it is not intended to and does not
present the financial position, changes in net assets or cash flows of Advance Child Care,
Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
Pass-through entity identifying numbers are presented where available.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes
the federal award activity of Advance Child Care, Inc. under programs of the federal
government for the year ended December 31, 2024. The information in this Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of Advance Child Care, Inc., it is not intended to and does not
present the financial position, changes in net assets or cash flows of Advance Child Care,
Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
Advance Child Care, Inc. did not provide federal awards to subrecipients.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes
the federal award activity of Advance Child Care, Inc. under programs of the federal
government for the year ended December 31, 2024. The information in this Schedule is
presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of Advance Child Care, Inc., it is not intended to and does not
present the financial position, changes in net assets or cash flows of Advance Child Care,
Inc.
De Minimis Rate Used: N
Rate Explanation: N/A
Advance Child Care, Inc. has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.